Author Topic: Taxes explained... (tax day is comming)  (Read 3072 times)

ManBearPig...

  • Getbig V
  • *****
  • Posts: 12280
  • Professional Fighter
Re: Taxes explained... (tax day is comming)
« Reply #25 on: March 20, 2009, 05:27:48 PM »
Uh...



Just a Historical Note......Whenever the top earners have been taxed the highest, for instance under Eisenhower, the United States has been the most economically prosperous.


Note the low taxation during Hoover.

Also Note that Obama`s tax plan is not much different at all from Bush`s tax plan.

2003 -2009 Bush Tax Brackets                  2010 Obama Tax Brackets
10%                                                      10%
15%                                                      15%
25%                                                      25%
28%                                                      28%
33%                                                      36%
35%                                                      39.6%


got any corporate tax info on bush vs. obama?
also, government spending under both?
Deep Tissue Massage

The True Adonis

  • Getbig V
  • *****
  • Posts: 50229
  • Fear is proof of a degenerate mind.
Re: Taxes explained... (tax day is comming)
« Reply #26 on: March 20, 2009, 05:40:13 PM »
got any corporate tax info on bush vs. obama?
also, government spending under both?
uh.....
Corporate Tax rate has been the same for years.  Also, each state differs on their individual corporate tax rates.

http://www.taxfoundation.org/publications/show/22917.html

Corporate Income Tax Rates--2009, 2008, 2007, 2006, 2005, 2004, 2003

       Taxable income over     Not over      Tax rate

          $         0        $    50,000        15%
               50,000             75,000        25%
               75,000            100,000        34%
              100,000            335,000        39%
              335,000         10,000,000        34%
           10,000,000         15,000,000        35%
           15,000,000         18,333,333        38%
           18,333,333         ..........        35%



The True Adonis

  • Getbig V
  • *****
  • Posts: 50229
  • Fear is proof of a degenerate mind.
Re: Taxes explained... (tax day is comming)
« Reply #27 on: March 20, 2009, 05:42:32 PM »
Side note:

France pays lower corporate taxes than the United States.

Side Note 2:

ALL SOCIALIST COUNTRIES PAY LESS CORPORATE TAX THAN THE UNITED STATES HAS EVER PAID!

The True Adonis

  • Getbig V
  • *****
  • Posts: 50229
  • Fear is proof of a degenerate mind.
Re: Taxes explained... (tax day is comming)
« Reply #28 on: March 20, 2009, 05:44:04 PM »
Corporate Tax Rates, US vs. Other Free-Market Democracies

Last year the Tax Foundation, a nonpartisan educational organization with a solid reputation for independence and credibility, released a report that compared the tax rates of US corporations (across all 50 states) with 29 other countries that accept the principles of representative democracy and free-market economy (referred to as OCED countries, 30 total). Their study reveals the surprising finding that US companies are already at a significant competitive disadvantage in the world economy.

When compared to other OECD countries:

24 US states have a corporate tax rate higher than top-ranked Japan.
32 states have a corporate tax rate higher than third-ranked Germany.
46 states have a corporate tax rate higher than fourth-ranked Canada.
All 50 states have a corporate tax rate higher than fifth-ranked France.

(The Tax Foundation, 2008)

liberalismo

  • Getbig IV
  • ****
  • Posts: 1335
Re: Taxes explained... (tax day is comming)
« Reply #29 on: March 20, 2009, 07:14:17 PM »
is comming, so I thought I would explain how "taxes" work in the US.

Tax system explained in terms of beer - to make it more manageable

Suppose that every day, ten men go out for beer and the bill for all
ten comes to $100. If they paid their bill the way we pay our taxes,
it would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that's what they decided to do. The ten men drank in the bar every
day and seemed quite happy with the arrangement, until one day, the
owner threw them a curve. "Since you are all such good customers," he
said, "I'm going to reduce t he cost of your daily beer by $20.
"Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes, so
the first four men were unaffected. They would still drink for free.
But what about the other six men - the paying customers? How could
they divide the $20 windfall so that everyone would get his 'fair
share?'

They realized that $20 divided by six is $3.33. But if they
subtracted that from everybody's share, then the fifth man and the
sixth man would each end up being paid to drink his beer. So, the bar
owner suggested that it would be fair to reduce each man's bill by
roughly the same amount, and he proceeded to work out the amounts each
should pay.

And so

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 ( 22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four
continued to drink for free. But once outside the restaurant, the men
began to compare their savings.

"I only got a dollar out of the $20,"declared the sixth man. He
pointed to the tenth man," but he got $10!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar,
too. It's unfair that he got ten times more than I!"

"That's true!!" shouted the seventh man. "Why should he get $10 back w
hen I got only two? The wealthy get all the breaks!"

"Wait a minute," yelled the first four men in unison. "We didn't get
anything at all. The system exploits the poor!"

The nine men surrounded the tenth and beat him up. The next night the
tenth man didn't show up for drinks, so the nine sat down and had
beers without him. But when it came time to pay the bill, they
discovered something important. They didn't have enough money between
all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how
our tax system works. The people who pay the highest taxes get the
most benefit from a tax reduction. Tax them too much, attack them for
being wealthy, and they just may not show up anymore. In fact, they
might start drinking overseas where the atmosphere is somewhat
friendlier.


B.S.

1. No one takes anyone seriously who pays ZERO taxes and complains that tax brakes don't benefit him.

2. The scenario would be a bit better if it was dealing with work levels and earnings. Some asshole CEO who doesn't even break a sweat earns 1,000 times more than some guy who works 10 hours a day and busts his ass each and every day? That is fair?

3. No one says that we should attack the wealthy people and boot them out. It would simply be more fair if they chipped in more to a country and the people that made them rich and pays for their extravagant lifestyles.

And if they want to leave the country because they are being taxed too much (many, in fact, cheat the tax system anyway) then we'll be better off without them. We don't need greedy assholes exploiting us. Even if they provide jobs, abandoning the country that allowed them to do what they did because it expects more taxes from them then other people who can't afford it makes them worth SHIT.

TacoBell

  • Getbig V
  • *****
  • Posts: 4664
  • Team FTN
Re: Taxes explained... (tax day is comming)
« Reply #30 on: March 20, 2009, 07:18:08 PM »
B.S.

1. No one takes anyone seriously who pays ZERO taxes and complains that tax brakes don't benefit him.

2. The scenario would be a bit better if it was dealing with work levels and earnings. Some asshole CEO who doesn't even break a sweat earns 1,000 times more than some guy who works 10 hours a day and busts his ass each and every day? That is fair?

3. No one says that we should attack the wealthy people and boot them out. It would simply be more fair if they chipped in more to a country and the people that made them rich and pays for their extravagant lifestyles.

And if they want to leave the country because they are being taxed too much (many, in fact, cheat the tax system anyway) then we'll be better off without them. We don't need greedy assholes exploiting us. Even if they provide jobs, abandoning the country that allowed them to do what they did because it expects more taxes from them then other people who can't afford it makes them worth SHIT.

So, old broke and disgruntled huh?
Hard to imagine you're not among the elite with all those 'people skills' you have.

The True Adonis

  • Getbig V
  • *****
  • Posts: 50229
  • Fear is proof of a degenerate mind.
Re: Taxes explained... (tax day is comming)
« Reply #31 on: March 20, 2009, 07:19:48 PM »
Complete vitae available online. Contrary to Internet folklore, Dr. Kamerschen is NOT the author of "Tax Cuts: A Simple Lesson in Economics" or “Bar Stool Economics” or anything similar to that. Additionally, he does NOT know who wrote it and he has no opinion on its merits.

DR. DAVID R. KAMERSCHEN is a Distinguished Professor of Economics and holder of the Jasper N. Dorsey Chair at the University of Georgia, Department of Economics, Brooks Hall, Athens, GA 30602-6254, Phone (706) 542-3681; Fax (706) 542-8774 or (706) 542-3376; e-mail davidk@terry.uga.edu. He resides at 3818 Sweet Bottom Drive, Duluth, Georgia 30096-1416, Phone (770) 476-5657; Fax (770) 476-5657; e-mail davidrkamerschen@bellsouth.net. Professor Kamerschen was born in Chicago, Illinois. His education is as follows: B.S. 1959, Miami University, general business; M.A. 1960, Miami University, economics; Ph.D. 1964, Michigan State University, economics. Dr. Kamerschen was a Graduate Assistant and Instructor at Miami University; Assistant Instructor at Michigan State University; Assistant Professor, Washington University; Associate Professor and Professor at the University of Missouri; and, since 1974, has been at the University of Georgia where after serving two terms as Department Head, is currently a Distinguished Professor. He has also acted as visiting professor at L"Universit� Jean Moulin in Lyon, France for four years (1992, 1995, 1997, 2001) at the University of Lodz, in Lodz Poland for one year (1992), and Professor in the University of Georgia Study Abroad Program, University in Avignon France (2001). He is the recipient of the national Outstanding Educator of America award several times and has been selected for a number of the University of Georgia teaching awards.

Professor Kamerschen is the author or editor of 10 different books (some with several different editions). He is the author or coauthor of Intermediate Microeconomic Theory (South-Western, two editions), Principles of Public Utility Rates (PUR, one edition), Economics (Houghton Mifflin, one edition), and Money and Banking (South-Western, six editions). His textbooks have been used at numerous colleges and universities both in the United States and abroad. He has received many comments and suggestions from professors, students, businesspeople, and other users each year which help keep his textbooks current, practical, and realistic as well as theoretically correct.

He has also penned over 200 articles in professional business, economics, financial, legal, and statistical journals including a number on topics in industrial economics, antitrust economics, and regulatory economics. He has served as editor, member of the board of editors, consulting editor, reader for about twenty (20) professional journals.

Dr. Kamerschen is included in such listings as: Personalities of the South; Contemporary Authors; Community Leaders and Noteworthy Americans; Dictionary of International Biography; Who's Who in America; Who's Who in the South and Southwest; International Authors and Writers; Book of Honor; Personalities in America; Two Thousand Notable Americans; The International Who's Who of Contemporary Achievement; Who's Who In Society; and Who's Who in Antitrust Economics, and Who's Who in Economics.

It is particularly noteworthy that Dr. Kamerschen has been selected for inclusion in the first three editions of Who's Who in Economics: A Biographical Dictionary of Major Economists (MIT Press and Edward Elgar Publishing, Limited). This volume includes biographies of the approximately 1000 most cited living economists in the world, as determined by the objective standard of the number of times other scholars cite the research, as monitored by the independent Social Sciences Citation Index.

Professor Kamerschen participates as a speaker, discussant, chair, or attendee in the meetings of recognized professional societies such as the American Economic Association, Industrial Organization Society, Midwest Economic Association, Southern Economic Association, and Western Economic Association. In addition to having hosted a local television show featuring contemporary economic topics, he has appeared on the MacNeil/Lehrer public television show.

In addition to his teaching, research, and public service duties as a Distinguished Professor at the University of Georgia, Dr. Kamerschen has been a member of the National Association of Forensic Economists and has been an Associate Member of the American Bar Association. He has previously served and is presently engaged in extensive independent activities as an economic consultant and/or expert witness in various forensic economics matters (antitrust, public utilities, wrongful death, personal injury, etc.).

Dr. Kamerschen has consulted and/or provided expert testimony in approximately 135 antitrust cases, appearing for both private parties and public bodies and for both plaintiffs and defendants involving a wide variety of products, industries, and markets. He has been qualified previously as an expert in industrial and antitrust economics dealing with consumer, business, and government behavior in the marketplace. His antitrust work has included both the assessment of liability and the calculation of damages. He has acted as a an economic consultant and/or appeared as an expert witness for Antitrust Division of the U.S. Department of Justice, for and against the Federal Trade Commission; for and against numerous state and local government bodies and for both plaintiffs and defendants in private treble damage cases; Since 1970 his antitrust consulting work has involved theoretical and empirical analyses of the structure, conduct, and performance of specific firms, markets, and industries in: airplanes, airplane parts, equipment and transparencies, alumina, anchors, anesthesiology, asphalt, automatic teller machines (ATMs), automobile insurance, automobile parts, avionics, bakery flour, banking, bar exams, batteries, bedding, bonding, burial caskets, cable television, can sheet, carpets, cement, chain saws, chemicals, computer hardware and software, corrugating medium, cruise lines, crushed stone, dairy ingredients, designer jeans, ductile pipe, drugs, electric power, electric equipment, electric tools, fast food franchises, floor covering, granite, handstamps, hydrate aluminum, industrial development land, lithotripsy, load haul vehicles, LP gas, marina, medical electronics, medical services, metal paint cans, milk, mobile homes, motel/hotel franchising, natural gas, newspapers, obstetrics, ophthalmology, organic pigments, peanuts, perinatal and medical services, petroleum, pipeline, bury, portable electric tools, printing, public utilities, razors, ready mix concrete, rebar steel, refuse collection, reinsurance, shoes, skiing services, soft dessert, soft drinks, souvenir merchandise, swimming pool sanitizers, telecommunications, television, tires, title insurance, union-nonunion contractors, waste paper, water meters, weather radar, wheat gluten and starch, white goods, etc. This consulting has included analysis of market definition and structure plus the impact of the challenged conduct on economic performance including damage calibrations.

Professor Kamerschen has consulted and/or testified in about 45 regulatory utility hearings. He has consulted and/or prepared expert testimony for applicants or intervenors in proceedings involving federal agencies such as the Canadian Transport Commission, and the Federal Energy Regulatory Commission (formerly the Federal Power Commission), and state tribunals in California, Florida, Georgia, Illinois, Indiana, Kansas, Mississippi, Nebraska, North Carolina, Ohio, Oklahoma, South Carolina, and Texas involving electric, natural gas, telecommunications, transportation, and water industries. He has been an appointive member of the Advisory Committee to the Consumers Utility Counsel for the State of Georgia.

Dr. Kamerschen has consulted and/or testified in about 130 wrongful death, wrongful termination, and personal injury cases. In addition, he has consulted in about 50 miscellaneous litigations involving damage and valuation calibration, business contracts, divorce, and advertising, on behalf of both plaintiffs and defendants. The wrongful death and personal injury cases have involved discounted present value calculations under both state laws and the Federal Tort Claims Act. The valuations have included analyses of various business concerns. The damage calculations not involving personal injury cases have assessed the economic losses flowing from various kinds of challenged conduct.

The True Adonis

  • Getbig V
  • *****
  • Posts: 50229
  • Fear is proof of a degenerate mind.
Re: Taxes explained... (tax day is comming)
« Reply #32 on: March 20, 2009, 07:22:53 PM »

Typical.  Republicans just LOVE to send around Hoax Chain letters and call them facts.



http://www.snopes.com/business/taxes/howtaxes.asp

chaos

  • Moderator
  • Getbig V
  • *****
  • Posts: 57825
  • Ron "There is no freedom of speech here" Avidan
Re: Taxes explained... (tax day is comming)
« Reply #33 on: March 20, 2009, 07:28:21 PM »
Brutal cut n paste.
Liar!!!!Filt!!!!

Charfman84

  • Getbig III
  • ***
  • Posts: 304
Re: Taxes explained... (tax day is comming)
« Reply #34 on: March 20, 2009, 07:49:46 PM »
The Rosenberg's were traitors.  :-X


More importantly, Jews.

Drama Queen

  • Getbig IV
  • ****
  • Posts: 1095
  • "Silence is argument carried on by other means''
Re: Taxes explained... (tax day is comming)
« Reply #35 on: March 20, 2009, 08:05:18 PM »
The monopoly capitalists - even while employing purely empirical methods - weave around art a complicated web which converts it into a willing tool. The superstructure of society ordains the type of art in which the artist has to be educated. Rebels are subdued by its machinery and only rare talents may create their own work. The rest become shameless hacks or are crushed. 

-                                                                                                                                            Ernesto "Che" Guevara

Tre

  • Expert
  • Getbig V
  • *****
  • Posts: 16548
  • "What you don't have is a career."
Re: Taxes explained... (tax day is comming)
« Reply #36 on: March 21, 2009, 07:39:09 AM »

There's so much that I could say here, but time's a little tight. 

Sure, for 2010, we only get the baby screw from Obama, but we are going to get killed in 2011.

Combine my federal with what I pay to California and you're talking about a very significant number that's only going to go up.  What they've done is to greatly reduce the amount of money I can save each year and taking it a step further, the IRS is actually penalizing me for an IRA contribution...and the penalty is greater than the interest earned on the deposit>:(

They're not just after our money now...these people are after our futures and we absolutely should not silently accept this crap.



Anjo

  • Getbig I
  • *
  • Posts: 6
Re: Taxes explained... (tax day is comming)
« Reply #37 on: March 21, 2009, 07:50:52 AM »
you americans do realise that there is no law that states you have to pay taxes. 

Anjo

  • Getbig I
  • *
  • Posts: 6
Re: Taxes explained... (tax day is comming)
« Reply #38 on: March 21, 2009, 07:59:28 AM »
And in case no one has seen it, I recommend you watch "America: Freedom to Fascism"  ;)



http://www.freedomtofascism.com/


http://en.wikipedia.org/wiki/Freedom_to_fascism

theworm

  • Getbig V
  • *****
  • Posts: 4019
  • Getbig!
Re: Taxes explained... (tax day is comming)
« Reply #39 on: March 21, 2009, 09:57:50 AM »
you americans do realise that there is no law that states you have to pay taxes. 

true, there may be no "law," but if you don't pay them:  Jail.
you are gay.

Tre

  • Expert
  • Getbig V
  • *****
  • Posts: 16548
  • "What you don't have is a career."
Re: Taxes explained... (tax day is comming)
« Reply #40 on: March 21, 2009, 10:01:00 AM »
true, there may be no "law," but if you don't pay them:  Jail.

They've been given the power to take all our shit if we don't declare income and pay heavy taxes on what we bring in.

The better you do in life, the more they jack you up. 


Butterbean

  • Special Guests
  • Getbig V
  • ******
  • Posts: 19325
Re: Taxes explained... (tax day is comming)
« Reply #41 on: March 21, 2009, 10:06:13 AM »
true, there may be no "law," but if you don't pay them:  Jail.
Unless you're Tim Geithner, Charles Rangel, Tom Daschal etc.
R

jason_deluxe

  • Getbig II
  • **
  • Posts: 121
Re: Taxes explained... (tax day is comming)
« Reply #42 on: March 21, 2009, 10:18:00 AM »
"Barstool Economics"  ::)

Thanks, but I'd rather not have Archie Bunker formulating tax or macro economic policy based on what "sounds right".

If some right wing douche doesn't think sound, progressive tax policy is "fair", well, who cares? The purpose of economic policy isn't to make some pasty, white, right wing cry baby feel things are "fair".

Not that it matters, because the kind of idiot that takes "Barstool Economics" as prescriptive isn't likely to have two thin dimes to rub together. This is the same type of intellectual lightweight that thinks Ayn Rand is an actual, credible philosopher.

Drama Queen

  • Getbig IV
  • ****
  • Posts: 1095
  • "Silence is argument carried on by other means''
Re: Taxes explained... (tax day is comming)
« Reply #43 on: March 21, 2009, 10:23:53 AM »
"Barstool Economics"  ::)

Thanks, but I'd rather not have Archie Bunker formulating tax or macro economic policy based on what "sounds right".

If some right wing douche doesn't think sound, progressive tax policy is "fair", well, who cares? The purpose of economic policy isn't to make some pasty, white, right wing cry baby feel things are "fair".

Not that it matters, because the kind of idiot that takes "Barstool Economics" as prescriptive isn't likely to have two thin dimes to rub together. This is the same type of intellectual lightweight that thinks Ayn Rand is an actual, credible philosopher.

Excellent post ,Jason.

theworm

  • Getbig V
  • *****
  • Posts: 4019
  • Getbig!
Re: Taxes explained... (tax day is comming)
« Reply #44 on: March 21, 2009, 10:26:53 AM »
Just give us a flat tax.  No one should get penalized for working harder!!! it should be the other way around.
you are gay.

dr.chimps

  • Getbig V
  • *****
  • Posts: 28635
  • Chimpus ergo sum
Re: Taxes explained... (tax day is comming)
« Reply #45 on: March 21, 2009, 10:32:00 AM »
Just give us a flat tax.  No one should get penalized for working harder!!! it should be the other way around.
Problem is that these days, more so than in the past, wealth is being accrued/accumulated without any 'work' being done. One of the main reasons for the ever-steepening wealth disparity gradient we see these days.   ;)

The ChemistV2

  • Getbig IV
  • ****
  • Posts: 2008
Re: Taxes explained... (tax day is comming)
« Reply #46 on: March 21, 2009, 10:33:35 AM »
I like the idea that some states have been considering called the "Sin" tax. Basically you have no income tax and you tax all the worthless crap out there...like Twinkies, Grape soda, Etc all the sugary salty junk that's causing kids to be fat and have diabetes. Cigarettes as well..all the unhealthy shit. First of all, the reason our medical system is overwhelmed because so many lowlifes live on this stuff. If Barry wants socialized medecine, why should I have to pay for some family that feeds their kids nothing but candy and fruitloops all day and then expects my tax dollars to pay for their diabetes and obesity related ailments? So this tax would bring in billions to the government and have the side affect of making people think twice before they pollute their bodies with junk. This is the answer.

Drama Queen

  • Getbig IV
  • ****
  • Posts: 1095
  • "Silence is argument carried on by other means''
Re: Taxes explained... (tax day is comming)
« Reply #47 on: March 21, 2009, 10:35:46 AM »
Problem is that these days, more so than in the past, wealth is being accrued/accumulated without any 'work' being done. One of the main reasons for the ever-steepening wealth disparity gradient we see these days.   ;)

Yes , rich people work harder for their money than poor people do for theirs  ::) ::)

Camel Jockey

  • Getbig V
  • *****
  • Posts: 16711
  • Mel Gibson and Bob Sly World Domination
Re: Taxes explained... (tax day is comming)
« Reply #48 on: March 21, 2009, 10:36:06 AM »
spoken like a true mexican.

Mexicans are beneficial to a more capitalist society, fool. They'll work for what they are entitled to, unlike greedy unionized workers who want 60 k salaries and tons of benefits despite be only highschool grads.  ::)

I don't think the rich should be penalized either, but they shouldn't get tax breaks that the middle and lowerclass earners should. Rich people tend to hold a greater portion of their wealth, while the lower tend to spend it which is beneficial to the economy as a whole.  

Tre

  • Expert
  • Getbig V
  • *****
  • Posts: 16548
  • "What you don't have is a career."
Re: Taxes explained... (tax day is comming)
« Reply #49 on: March 21, 2009, 10:41:44 AM »
Just give us a flat tax.  No one should get penalized for working harder!!! it should be the other way around.

Exactly.

The guy receiving a Section 8 housing allowance so that he can live in a good neighborhood ought to have a car so that he can get to work. 

But that guy is *not* entitled to have a set of $2000 'rims' on this car that I'm paying for.